[ad_1]
Wed, May 6, 2020 – 8:59 a.m.
The following companies saw new developments that may affect their stock trading on Wednesday:
United Overseas Bank (UOB): On Wednesday, the lender posted a smaller-than-expected 19 percent drop in first-quarter net profit to S $ 855 million for the three months to March 31, from S $ 1.05 billion a year earlier. UOB shares closed at S $ 19.90 on Tuesday, up to S $ 0.09 or 0.5 percent.
Great Eastern Holdings: Great Eastern on Wednesday posted a 90 percent drop in net profit to S $ 33.9 million for the first quarter ended March 31, from S $ 342.7 million a year ago. OCBC Bank’s insurance arm was affected by non-operating losses of S $ 222.8 million, compared to a non-operating profit of S $ 75.9 million a year earlier. Shares in Great Eastern closed at S $ 18.73 on Tuesday, an increase of S $ 0.13 or 0.7 percent.
Singtel: In a presentation of the exchange on Tuesday, Singtel announced that its subsidiary of the video streaming service, HOOQ Digital Mauritius, has filed a petition to liquidate HOOQ M and appoint a provisional liquidator. Singtel has an indirect 76.5 percent stake in HOOQ M. Singtel’s shares closed at S $ 2.73 on Tuesday, an increase of S $ 0.01 or 0.4 percent prior to this announcement.
OUE Commercial Real Estate Investment Trust (OUE C-Reit): For the first quarter ending March 31, the amount available for distribution increased 44.5 percent year-on-year to S $ 37.63 million due to post-merger contributions to the OUE Hospitality Trust in 2019. OUE C-Reit units closed at 40 Singapore cents on Tuesday, 1.5 cents or 3.9 percent.
Koufu: The Koufu Hawker Management subsidiary announced on Tuesday that it will no longer manage the Jurong West Hawker Center when its contract expires on August 6, 2020. The counter closed at 61.5 Singapore cents on Tuesday, 0.5 percent or 0 , 8 percent after the announcement.
Banyan Tree Holdings: The hospitality group said Tuesday it will be able to pay its $ 100 million fixed-rate notes due June 5, 2020 with a 4.85 percent coupon, after considering its working capital, cash and banking services. . The accountant closed at 27 Singapore cents on Tuesday, up 0.5 percent or 1.9 percent, ahead of this announcement.
HC Surgical Specialists (HCSS): Serene Tiong, a shareholder of HCSS and the defendant in a defamation lawsuit filed by group surgeon Julian Ong, has claimed that the chief executive officer and chief executive officer of HCSS, Heah Sieu Min, failed in his duties as director in connection with the acquisition of An additional 19 percent interest in Dr. Ong’s practice. Shares of the HCSS listed on the Catalyst List fell S $ 0.01 or 2.9 percent to close at S $ 0.34 on Tuesday, ahead of the announcement.
Darco Water Technologies: Darco Vice President Wang Zhi is launching a mandatory conditional cash offer for the shares he does not own in the company, at 17 cents a share. The counter closed at 13.2 Singapore cents on Tuesday, an increase of 0.2 percent or 1.5 percent.
Commercial stop: Perennial Real Estate Holdings requested a suspension of operations on Wednesday morning before the market opened, pending the release of an announcement.
[ad_2]
